The Business Times, 11 May 1978

Microfilm: NL9690
Total Pages: 16
1 16 The Business Times
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  • Title Section
    Masthead
    11 1 BUSINESS TIMES M.C.(P) No. 218/1/78 THURSDAY, MAY 11, 1978 50 CENTS
    11 words
  • BRIEFLY...
    • Article
      Lock icon Investment offensive
      73 1 AFP, KUALA LUMPUR, Wed. Malaysia Is launching a new Investment offensive overseas to attract some of the industries there which are closing down because of high labour costs, Deputy Prime Minister Datuk Serl Dr. Mahathir Mohamed said today. Dr. Mahathir who will be leading a highpowered Investment mission
      AFP,  -  73 words
    • Article
      Lock icon Don't go overboard
      98 1 AFP MANILA, Wed. Western Industrialists today called on Asean and countries In the Pacific rim to keep a rein on their foreign borrowings until the world economy has Improved substantially. W.D.H. Gardiner, vice chairman of the Toronto-based Royal Bank of Canada said borrowers In this region must
      AFP  -  98 words
    • Article
      Japan's surplus
      42 1 TOKYO, Wed. The Japan Foreign Trade Council today forecast Japan's trade surplus in calendar 1978 will Increase to about US$lB billion (5541.4 billion) from $17.49 billion last year, due mainly to an increase In the dollar prices of Japanese goods.
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    • Article
      Lock icon Trade sails
      72 1 Reuter MANILA, Wed. World trade may have to revert to sailing ships before the end of the centurjh because of a possible fuel shortage, a New Zealand shipping expert said today. Robert Owens, chairman of the Pacific Basin Economic Council's transportation committee discussions here, said a rather gloomy
      Reuter  -  72 words
    • Article
      Lock icon Be ready for polls
      48 1 Reuter KUALA LUMPUR, Wed. The United Malay National Organisation (Umno) and other component parties of the ruling National Front have been told to be ready for a general election "at anytime", the Malaysian Deputy Prime Minister, Datuk Dr. Mahathir Mohamad, said here today. Reuter
      Reuter  -  48 words
    • Article
      Machinery orders
      41 1 TOKYO, Wed. Business orders for machinery, an indicator of Japan's economic trend, reached 608.8 billion yen (Sso billion) in the first three months of 1978, up 17.4 per cent over the previous quarter, the Economic Planning Agency announced today.
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    • Article
      Buying team here
      63 1 A TEN-MEMBER Japanese buying mission arrived here yesterday from the Asean Trade Fair in Manila to study the possibility of buying more Singapore products. Leader of the delegation, Yujlro Shlndo said the mission Is Interested In handicraft, furniture, agricultural and fishery products, nonferrous metal, scrap and Jewellery.
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    • Article
      No early options
      30 1 TOKYO, Wed. Tokyo Stock Exchange Is continuing to study a draft plan for the Introduction of options trading, but no early decision is expected, a spokesman said.
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    • Article
      Lock icon Dow Jones
      53 1 UPI NEW YORK, Wed. Stocks struggled higher early today as Investors weighed the effects of the market's recent rally. Trading was fairly active. The Dow Jones industrial average was ahead 0.95 point to 823.02 around 11 a.m. Advances led declines, 519 to 451, among the 1,515 Issues crossing
      UPI  -  53 words
  • Chief Prixe Changes
    • Article
      In Singapore yesterday
      133 1 Rises Most active Aver HiUra Tin 980 +80 Bovis 716,000 371,000 Tronoh Mines 600 +45 B Ray a Supreme Corpn 243 +43 Faber Merlin 367,000 Ber juntai 810 +35 G Lumber 264,000 Keck Seng 218 +20 B Raya 205 +20 Total Turnover 7.51 m MUI 218 17
      133 words
    • Article, Illustration
      In Kuala Lumpur
      180 1 Rises Most active A. Hltam Tin 10 40 +.70 B. Raya 558.000 502,000 Toshiba 4 20 30 T'ganu Dev Tongkah 2.85 .25 G. Lumber 456,000 413,000 B. Raya 2.14 .24 U.M. Works Keck Seng 2.20 .22 K. Kampar 3.00 .20 Total Turnover: 6.97 m Malayan Tin 10.70
      180 words
  • Article
    The return of a giant -Pertamina
    790 1  -  BIG BOOST FOR DIRECT TRADE By CHAN BONG SOO MILLIONS of dollars more in Indonesian business Is expected to come Singapore's way when Asia's largest industrial corporation outside Japan, Pertamlna, re-establishes a direct link here very soon. Informed sources say the Indonesian state-owned corporation,
    790 words
  • Article
    Lock icon Saudi oil sales down 30pc
    305 1 Reuter. SAUDI Arabian oil exports were down to 6.2 million barrels a day last month, 30 per cent lower than last year's average. Informed sources in Jeddah yesterday said the decline in Saudi exports is cutting the surplus in the world oil market, which was
    Reuter.  -  305 words
  • Article
    Lock icon NEW OFFSHORE UNIT?
    126 1 Reuter THE government-owned Philippines National Bank Is planning to open an offshore unit In Singapore, bank president Panfllo Domingo announced In Manila. The proposal still has to be sanctioned by the Philippines Central Bank. Mr Domingo said one reason for opening the unit was because the Philippines
    Reuter  -  126 words
  • Article
    Export orders to lead the upsurge
    686 1  -  •y RONNIE LIM ALL MAJOR industries In Singapore, except rubber processing and rubber products, are confident of securing new orders, especially for export In the coming months. The latest Survey for Business Expectations, covering 348 major Industrial establishments, reveal a positive net balance of
    686 words
  • Article
    Bovis is hotly pursued from the opening bell
    334 1 BOVIS South-east Aaia •hot into the limelight yesterday with buyers chasing its shares throughout the day on the Stock Exchange of Singapore. Opening at 74 cents, the share moved progressively up on each successive deal done with huge turnover to boot. The
    334 words
  • Article
    The chemical formula — sell more overseas
    544 1  - The chemical formula sell more overseas •y TSANG SAU YIN THE future growth of the chemical industry will depend upon Singapore's ability to export to regional markets and beyond. So far, the industry's progress has been slow and has tended to rely on market opportunities within Singapore. For longterm sustained
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  • Page 1 Advertisements
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      1 1 i.*
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      8 1 TEACHER'S ROYAL HIGHLAND 12 VKAK OLD SCOTCH WHISKY
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      Page 1 Advertisements Column 3
      37 1 _(*|%+<.*-:"%}.'~}{&:,_;=(\?+-| IKMDS SHIPPING TIMES TASKaWUfcr SIGMA MoUl IMFchtaf TRADEMARKS the BNAP-UP of KLK COLD Stone* boo for ooeood MKMOPAD 2. CROSSWORDS 2. AIRCRAFT SCHEDULE 5, TV A RADIO BRIBTOW 7, STRAWS IN THE WIND 7, SHARE PRICES 11.
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      Page 1 Advertisements Column 4
      269 1 lINGA^Om 14 Shaw Road Singapore 13 Tel: *****1/*****7 Leader Page 6 AKAIPRd*-i S3* MS fur Sw vf■■■%?&* em i \AT-2200FWAM STBMBOTUNBK ■■■<■ \CS-702 DOFKONT LOADING STEREO CASSETTE DECK >. I X SYSTEM AP-lOOC STEREO TURNTABLE Features Automatic Tom Arm Return Motor. 4 pok synchronous motor Sped 33 V3*ud4s r.h.m Waw&Flutter
      269 words
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  • TRADE AND INDUSTRY
    • Article
      Best to sell to medium end of US market
      596 2  -  By RAHIM KASSIM SINGAPORE'S electronics manufacturers' decision to enter the United States Is timely, and they must take every advantage to secure a share of the market before this opportunity passes them by. The manufacturing source of the US market has
      596 words
    • Article
      S'pore is conducive to investments
      299 2  -  By JOHN LIM INDUSTRIES setting up shop In Singapore are assured of an environment which is conducive to their development. Deputy Speaker and MP for Chua Chu Kang, Mr. Tang See Chim said this at the official opening of KDS (Singapore) Pte Ltd yesterday. The
      299 words
    • Article
      Lock icon GOLDFISH BOOST FOR HK
      105 2 AFP. EXPORTERS of goldfish in Japan, Singapore and Thailand may run into stiff competition from Hongkong which will be getting supplies from China. This follows China's appointment of Lul Keung Aquarium as its sole distributor in Hongkong of goldfish and tropical fish. The firm's owner Mr.
      AFP.  -  105 words
    • Article, Illustration
      Office here to give farmers a hand
      223 2 THE US Feed Grain Council (US FGC) hu established an office in Singapore to help regional grain importing countries increase agricultural productivity and improve marketing, distribution and consumption of coarse grains. Mr. M.T. Callahan (above), the newly appointed director for Southeast. Asia, US
      223 words
    • Article
      Lock icon Asian farm output will continue to increase this year
      723 2 Reuter AGRICULTURAL production in Asia should continue to increase this year, the US Agriculture Department's annual review of the Asian agricultural situation said. Overall production increased 4 per cent last year despite drought conditions, bringing output about 2 per cent above
      Reuter  -  723 words
    • Article
      Lock icon US firm teams up with Sabah Foundation
      217 2 Reuter. A US timber products firm said it will build a Joint venture wood-based Industrial complex with the Sabah Foundation in the Lahad Datu area In Sabah. A press statement said George Weyerhaeuser, president of Weyerhaeuser Co, and Sabah Foundation chairman and Chief
      Reuter.  -  217 words
    • Article
      Learning the latest at expo
      126 2 A TRADE exposition, the International Electronics Production Conference will be held at the Hyatt Hotel from Sept. 6 to 9. It alms to Introduce the latest costreducing production technlques to electronics manufacturers. The exhibition will be attended by over 6,000 engineers and 100 electronics components
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    • Article
      MEMO PAD
      257 2 DATE TITLE VENUE ORGANISER COURSE AND TALKS April 24May 13 Middle Management Course SITC SITC May 8- Aust. Insurance Institute Aug 17 Assoclateshlp Course SITC SITC May 8-12 Programme on Export Dev of Consumer Electronic Products to US RELC Department of Trade May 11 The Restless Organisation Hilton
      257 words
    • Article
      INAUGURAL MEETING
      77 2 THE recently registered Singapore branch of the Institute of Chartered Shlpb okers will hold Its Inaugural meeting at Hotel Shangri-La's Gardenia Room on June 3. The meeting will elect officials for the year 1978/79 followed by a question-arid-answer session with prospective student members and guests. Admittance will be
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    • Article
      Sanwa in Peking for trade talks
      178 2 SANWA Bank's president, Toshlo Akashi, is In Peking for talks with the Bank or China on ways to settle transactions under an eight-year US$2O billion (SS46 billion) private Japan-China trade agreement concluded last February. In the past few months, Japanese and Chinese banks have
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  • Page 2 Advertisements
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      Page 2 Advertisements Column 1
      331 2 What's been the impact of the yen's incredible climb? Subscribe now Airmailed from Tokyo me japan Economc jouhhl ENGLISH WEEKLY EDITION of JAPAN'S AUTHORITATIVE ECONOMIC DAILY ihb japan Econmc joum WON KEEN 9MUN BO J seelu recovery and curb of yen speculation The Japan Economic Journal is available to foreign
      331 words
  • Page 2 Miscellaneous
    • Miscellaneous
      Page 2 Miscellaneous Column 1
      609 2 TWO-IN-ONE CROSSWORD CRYPTIC PUZZLE ACROSS 1 Lemons, etc., for a Rugby Union outfit? (5) 0 Walter's handy. It seems (5) 0 Oarment that puts the French In doubt (7) 10 Coloured character? (5) 11 The bad parts of December and May (5) 12 Tough stuff (5) 13 Climber of no
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  • OVERSEAS
    • Article
      Mitsubishi charged with theft of secrets
      178 3 MITSUBISHI International Corp., one of the world's industrial giants, and six of its executives were indicted by a US Federal Grand Jury on Tuesday on charges of stealing valuable trade secrets from the Celanese Corp. Four Japanese nationals, who would have to be extradited
      178 words
    • Article
      Lock icon Fishermen declare blockade of Danish ports
      217 3 Reuter. DENMARK'S Baltic fisherman yesterday declared an eight-hour blockade of 20 Danish ports, including Copenhagen, to press their demands for urgent improvement of fishing conditions. Leif Hansen, spokesman for the 1,800 fishing boats standing by for the protest action, declared that the fishermen decided
      Reuter.  -  217 words
    • Article
      Lock icon Aluminium price rise
      69 3 AFP. TWO BIG US producers of aluminium decided on Tuesday to increase the prices of their primary aluminium. Kaiser Aluminium, the No. 3 American producer, announced a rise of 7.5 per cent, or US4 cents, to 57 cents a pound from June 1. Consolidated Aluminium (No. 4
      AFP.  -  69 words
    • Article
      Lock icon LABOUR BILL GETS CARTER'S SUPPORT
      602 3 Washington Star. PRESIDENT Carter has pledged full backing for passage of the controversial labour Bill which faces a filibuster when it comes to the Senate on Monday. "It's not right that unfair procedural delays be used against American workers in labour disputes, and that's what's
      Washington Star.  -  602 words
    • Article
      Lock icon Interest rates can threaten recovery
      528 3 Reuter. WHITE House domestic affairs counsellor Stuart Eizenstat said he is concerned tighter monetary policy may eventually undercut economic recovery. In remarks before the National Finance Council of the Democratic National Committee, Mr. Eizenstat said recent interest rate increases Implemented by the Federal Reserve Board
      Reuter.  -  528 words
    • Article
      Lock icon Taking stock of improved confidence
      351 3 AFP. THERE Is now greater public confidence In President Carter's administration which may hopefully restore some institutional investors' faith in US equities, an Investment expert said in Hongkong on Tuesday. Mr. Alan Henderson, senior investment director of Schlesinger Investment Management Services of London, attributed the
      AFP.  -  351 words
    • WORLD IN BRIEF
      • Article
        Lock icon IN FAVOUR OF DUMPING
        447 3 Agencies. BRITISH producers of stainless steel have opposed the imposition of antidumping duties on ferrochronium imported into the European Economic Community. Trade sources said the shipments come from South Africa. Sweden and other countries. French, Italian and West German producers of ferro-alloys, on the contrary, want
        Agencies.  -  447 words
    • Article
      Lock icon British industry still gloomy about outlook
      335 3 Reuter. BRITISH industry's optimism about the state of business in the UK has not Improved during the three months to April. In terms of capacity working and of past trends in new orders and output, the general picture in manufacturing industry has again been
      Reuter.  -  335 words
    • Article
      Lock icon Bonn told to remove tax anomaly
      132 3 Reuter A GROUP of organisations representing some foreign investors in West Germany has seat a study to the Finance and Economic Ministries calling for changes in the treatment of foreign shareholders under Germany's new corporation tax law reform. Industry sources said the •tudy noted
      Reuter  -  132 words
    • Article
      Lock icon UK money supply overshoots target
      426 3 Reuter. BRITAIN'S broadlydefined money supply Indicator, sterling M-3, overshot the government's growth guidelines of 9 to 13 per cent for financial 1977/78 which ended in April, banking sources said. They draw this conclusion from Tuesday's [tubllshed 3.1 per cent rise n the banking system's eligible
      Reuter.  -  426 words
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      945 3 WAYFOONG MORTGAGE AND FINANCE (SINGAPORE) LIMITED (Incorporated in the Republic of Singapore) BALANCE SHUT AS AT 31 ST DECEMBER 1977 NOTES ON THE ACCOUNTS 31 ST DECEMBER 1977 68,003 FIXED ASSETS (note 3) 4,795,126 INVESTMENTS (note 4) DEPOSIT WITH THE MONETARY 4,054,878 AUTHORITY OF SINGAPORE CURRENT ASSETS Hire purchase debtors
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  • RAW MATERIALS
    • Article
      LOCAL AND FOREIGN RUBBER
      500 4 OPENING prices in the Singapore rubber market were marked down slightly following easier London advices yesterday. Thereafter, the market was inactive until noon when prices recovered slightly on shortcovering Interest and some forward enquiries. The market closed slightly lower with June RSS One buyers quoted at
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    • Article
      RAS PRICES
      322 4 R AS prices in cents per kilo yesterday: Noon (per kilo) Close per kilo) Int. 1 R.S.S. prompt f .o.b. Int. 1 R.S.S. June Int. 1 K.S.S. July Int. 2 R.S.S UK/Cont. Int. 3 R.S.S. UK/Cont Int. 4 R.S.S. UK/Cont Int. 5R.S S. UK/Cont Buyers 200.29 207.50 208
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      SSR AND SMR
      98 4 NOON 8SR and SMR prices yesterday: UM July (Current Mtk) (Fo. ■ward Mtk) R.A.8. Buyer* Mien Buyer* Seller* (mil per kf) (ca it* par kg) SSR20 (1-ton Pallet) 1W00 201 00N 200.00 202 00N SSR50 (1-ton Pallet) 197.00 19S.00N 106.00 200 00N M.R.E.L.B. SMR 5CV(1-ton Pallet) 223.00
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      Palm oil
      78 4 C I F. North European ports in US dollars per ton unless otherwise stated LONDON: Tuesday Previous Malaysia 5% ffa bulk per tonne July J 70 sir Ml sir Sumatra 5H ffa May 830 sir 835 sir June 600 sir 807 50 sir August MO sir 590 sir
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      Closing prices
      31 4 Rubber: May 10 Singapore: June 206.75 cents (down 1.25 cents) Malaysia: June 211.75 cents (down one cent) Tin: MS 1.(17 (up 114) Official offering: 280 tonne* (down 10 tonne*)
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    • Article
      Sugar
      254 4 SUGAR futures in London opened £0.95 to £0.35 per tonne yesterday In a turnover of 209 lots. The market was Initially marked lower following Tuesday night's barely steady kerb before holding steady in light two-way trade house activity. Trade reports of a Tunisian buying tender today and forthcoming seller
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      Produce exchange
      338 4 THE SINGAPORE produce market was quiet yesterday, but prices of the most popular commodities held from steady to firm in very light trading. Overseas enquiries for coconut oil evoked no response from local suppliers as all the oil mills are committed right through to next month. The copra
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    • Article
      Coffee
      456 4 ROBUST A futures on Tuesday afternoon closed IrreEilar 112 higher (basis Spot ay at c 1,582) to C 7 per tonne in London. Volume traded was 1,065 lots, Including 12 options. Dealers said a mixture of local dealer buying and Jobber profit-taking Induced an Irregular close. They said for
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      Cocoa
      391 4 TERMINAL cocoa yesterday finished the first call with small mixed gains and losses, but went Into a modest decline In fairly active open trading on outsider and stoploss selling in London. Losses from Tuesday night extended to £25 per tonne although scaledown Jobber short-covering and chart support buying helped
      391 words
    • Article
      Soybean
      205 4 SOYBEAN futures in Chicago recovered from early losses on Tuesday and finished the session at the day's highs, up US 13% to 6% cents a bushel. Exporter deliveries against the May position stimulated some early selling and professional selling In the July added to the market's early weakness and
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      Wheat
      185 4 WHEAT futures on Tuesday, finished the session in Chicago at the day's best price levels, registering gains of US 2* to 1 cents a bushel. Prices declined about two cents in early trading as weakness in soybean futures generated speculative selling. After the initial downward pressure from commission house
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    • Article
      Straits tin
      341 4 THE Straits tin price In Penang yesterday rose Msl4 to $1,697 on an official offering down 10 tonnes to 280 tonnes. Despite the high supplies of tin from miners, the 'market continued to firm mainly due to the overnight London strength and further Japanese, US and East European
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      Rice
      192 4 BANGKOK rice prices yesterday were unchanged from Tuesday's. (U8 dollars per tonne FOB basis Bangkok): White Wee: 100 pet Ist class 442 100 pet 2nd class 427. 100 pet 3rd class 422 10pet 400. 15 pet 382. 20 pet 387. 25 pet 377. 35 pet unq. A-I Super 252,
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      Hongkong comex
      216 4 THE sugar futures market closed little changed from the previous closing, with turnover steady at four lots. Trading remained dull and featureless, with prices quoted about U50.05 cents higher. The Hongkong dally spot sugar prices eased 0.05 to 7.45 cents, while net open positions totalled 36 lots after
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      SPOT PRICES
      183 4 YARN and cotton in Hongkong dollars, not e»-godowu: Cettea Tan: China Blue Phoenix 20* 1770 32* Mao. 40s 2.300. (per bale of 400 I be). Piece Geefe: China Butterfly and Olobe Brand unq. Dragon Head unq. n*e Lambs unq Plover and ButterPakhtaa Be* CaMaa. LSS 379, 4P 370,
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      Copper
      256 4 COPPER wire bars yesterday finished the morning with all round gains of L' 0.50 per tonne. Dealers said the early premarket was marked down in sympathy with overnight New York although the lower levels found some covering support against US physical business. Three months rallied from 1'709 up to
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      Silver
      136 4 SILVER yesterday closed with losses of 0.8 to 0.3 pence per troy ounce in London. Dealers said following a lower opening, which reflected the overnight close at New York, prices rallied partially under covering prompted by higher gold. The bullion dealers' fix provided additional support in the closing stages.
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      Lead
      49 4 LEAD on the morning was down 10.25 for cash and t0.50 for three months in London yesterday. The market was given a > boost up to C3lO per tonne I for three months following i steadiness in copper, but this position slipped back to l 1307 on the kerb.
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      Gold
      354 4 THE kilo bar in Singapore yesterday opened at 5513,000 and hovered at this level throughout the morning session. In the afternoon, the market picked up and closed at the high of $13,055. In the London market, the metal opened at U*****.00/30 and closed near the high at U*****.70/ 173.00.
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      Zinc
      53 4 ZINC on the morning rose £4.50 for cash and £5 for three months In London yesterday. The trend in copper encouraged some shortcovering interest and switching with lead, which took three months up to 1314 per tonne by the close compared with the initial pre-markit trade of £309. Sales
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    • MONEY AND EXCHANGE$
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        Singapore market
        459 4 BOTH the foreign and local money markets were featureless and uneventful yesterday. On the foreign exchange market, the US dollar remained steady. Against the local dollar, the US unit opened at 2.3340/50 and was traded at that level throughout the day, closing just a little lower at 2.3335/45.
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        Asian $ & CD rates
        225 4 Asian CD rates ASIAN currency* deposit Interbank rates as at clo* on May 10 US Dollar. (Spot) Offer Bid 7 days .71/2 7 3/8 1 mth 7 3/16 71/16 2 mlhs 7 9/16 77/16 3 mths 7 3/4 7 5/8 6 mths 81/8 8 9 mths 8 5/16 8 3/16
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        Discount
        9 4 i:#.vrei Df!TJ«Ti?SWT<r?TrJl^iwTT^^T (EJ3ffl2 Source: National Discount Co Ltd.
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        MLR
        21 4 THE average rate at which Singapore banks are currently prepared to lend to their best customers ii 7 per cent.
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        Euro $ rates
        165 4 Euro rates PERIOD Eurodollar deposit rates up to six months opened lower yesterday due to the Friday start. Shortdates opened steady. Near shorts tended easier in light early trading on lending requirements while longer day-to-day rates held steady in line with the steadiness in fixed dates. Initial technical fails In
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        Frankfurt
        41 4 FRANKFURT excnanges opening quotes on May 10 US 2 MlO/30 CM 1 6050/75 Stf 3 78S/796 Dfl 93 32/47 Sfr 100 00/10 Lit 2.403/413 rtr 45 .06/15 Nkr 30 46/56 Btr con 6.4 21/431 Bfr fin 6.40/41 Ten 0 0275/90
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        Australia/NZ
        54 4 AUSTRALIA/NZ exchanges quoted on May 10. AUSTRALIA ft US dollar 1.131*71.1771 Sterling 0.6390/0.6166 Ninety-day air mail buying rates. Sterling 0.0496 US dollars 1.1530 Ninety-day forward buying rate*: Sterling 0 6295 US dollar* ***** NEW ZEALAND Sterling 0 5579/0 5548 US dollar 1.0120/1 0020 Ninety-day airmail buying rate*. Sterling 0
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        Zurich
        52 4 ZURICH exchanges closing quotes on May 9. US 1.6790-0760 Slg 3 9797-9823 Can I 7906-7902 Dink 04. 1523-3746 Dfl M 0321-1396 Pfr 43 9061-9409 Bfr 0 0655-0613 Dkr 34.6765-7032 Nkr 30.3061-3309 Skr 42 4275-4627 Lit 0.2200-2270 Aua ach 13 0925-1034 Port 4 3560-3678 Spain 2 4906-4335 Arg 0 26-36
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        London
        199 4 SPOT sterling was nervous And believed to be receiving some official support in early trading yesterday. Forward discounts against the dollar widened from overnight levels on anticipation of pressure building up for a further rise 1» UK minimum lending rate, dealers said. Sterling s trade-weighted index declined at the
        199 words
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        New York
        287 4 THE DOLLAR closed near its lowest levels of the day in active trading on Tuesday. Dealers said the US currency opened stronger In a continuation of Monday's advance on news that Opec oil prices Are expected to remain unchanged this year and higher US Interest rates. However, after
        287 words
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        Tokyo
        126 4 THE US dollar for overnight delivery yesterday closed at 225.50 yen, up from a 225.30 opening, but down from 225.80 at Tuesday's close. Trading was moderate with volume USMO3 million. The US currency moved narrowly in light late trading after recovering slightly from an initial fan In line with
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        Hongkong
        108 4 J THE MARKET remained quiet yesterday, awaiting trends to develop in European trading. The US dollar closed little changed at 2.0927/37 marks, compared with its 2.0930/40 opening and 2.0923 New York closing mld-polnt. The dollar closed unchanged from its 225.40/50 yen opening against Its 225.22 New York closing mid
        108 words
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        Treasury bill tender
        34 4 THE MONETARY Authority of Singapore Invites banks and discount houses to tender for the following Treasury bills: (1) SS2O million 91-day bills to be Issued from May 15 to May 19.
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  • Page 4 Advertisements
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      Page 4 Advertisements Column 1
      298 4 s EfiyiCt s Aubrey Wilson World Leader in Marketing is Here Again For a Series of Seminars Saturday May 27,1978 -Singapore Title: Marketing of Professional Services A New Dimension Venue: Apollo Hotel, Singapore Time: 2.30 pm to 6.00 pm For Doctors, Accountants, Consultants, Valuers, Architects, Engineers, Radiographers, Pharmacists, Builders, etc.
      298 words
    • Advertisement
      Page 4 Advertisements Column 2
      48 4 FOR SALE LARGE QUANTITY POLAR ENGINE SPARES 'W SERIES MIRLEEB ENGINE ft PARTS 2TLB4 DEUTZ AIR COOLED ENGINE SPARES 120 mm BORE ALL GENUINE NEW PARTB AT DISCOUNT PRICEB IMMEDIATE DELIVERY CONTACT MR MARSHALL STAYING BHANGRI LA OR POLY TRADING CO. 33 LAVENDER ST. SINGAPORE, 12 TEL: *****04
      48 words
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  • TRANSPORT
    • Article, Illustration
      Promet lands contract for $4m camps in Iran
      596 5 By Our Reporter PROMET has Just won a $4 million contract to build Grtable camps for use in in. The contract for 150 portable camps, was won from a West Oerman firm. Competition was stiff but Promet had the winning card a
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    • Article
      Lock icon Two-tanker order for Mitsubishi
      112 5 Reuter CHEVRON Transport, a subsidiary of Standard Oil of California (Socal), has ordered two 80,000 dwt tankers from Mitsubishi Heavy Industries of Japan. The ships, their value not disclosed, are scheduled for delivery In June and August 1979. Meanwhile, FMC Corp said It has resolved all
      Reuter  -  112 words
    • Article
      Firmer ship sales
      91 5 A FIRMER trend has developed in ship sales following an Improvement on the freight market, particularly in the timechartering section, Lloyd's List pointed out on Tuesday. The keener interest for handy-size vessels up to Pa nam ax (80,000-ton) bulk carriers has led to a levelling-off in the
      91 words
    • Article, Illustration
      SHIPS IN PORT
      310 5 expected arrivals today KEPPEL WHARVES Pradesh A V Ja (B Kim Ann (0600) 13/14 Ocean Supply (B. Baree) (0700 after Kltl Samut) 48 Samson (0600) 23 Sentosa Island (after Jalamatsya) 1/2 Vrancea (0600) 46 Yue Flower (0030) 10 PASIR PANJANG WHARVES Builder II (0700 after dM 302
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      Lock icon Your PanAm 'captain' reporting... a clear profit
      348 5 UPI. Reuter. PAN American World Airways was profitable this April compared with a loss of over US$3 million (Ss7 million) in April, 1977, said its chairman William Seawell at the company's annual meeting. He did not give specific figures, saying PanAm has >
      UPI.; Reuter.  -  348 words
    • Article
      Lock icon Regular Bangkok to Hanoi flights this month
      155 5 Reuter. REGULAR commercial flights between Bangkok Hanoi via Vientiane will start on May 17. Mr. Prasart Sukhonthapan, marketing manager of the Thai Airwave Company (TAC). eaid Vietnam would begin a similar air eervice on the route on May 22. He eaid that TAC
      Reuter.  -  155 words
    • Article
      Lock icon Don't give away air routes call
      502 5 UPI THE UNITED States should adopt a tough policy in foreign air negotiations, including a refusal to grant any concession to Japan until problems at Tokyo's new Narita Airport are solved William Seawell. chairman of Pan American World Airways, said on Tuesday that none
      UPI  -  502 words
    • Article
      Lock icon Japan rejects lata request on Narita airport
      295 5 Reuter. JAPAN has rejected an International Air Transport Association (lata) request that only domestic Japanese flights use Tokyo s battle-scarred new international airport at Narita because of security problems. Transport Ministry sources in Tokyo said the government did not give serious thought to
      Reuter.  -  295 words
    • Article
      Lock icon UK to extend loan guarantees
      251 5 Reuter. BRITISH Trade Secretary Edmund Dell said after confif VH® wlth clearing banks that he is prepared to consider limited extension of government guarantees on shipping loans by up to three years. He told Parliament the facility will be available to companies with short-term problems
      Reuter.  -  251 words
    • Article
      Lock icon TOA not ready to decide yet
      111 5 Reuter. JAPAN'S domestic airline, TOA. said selection of aircraft to replace Its Japa-nese-built YS-11 turboprops will wait until later this year. The company has 35 YS--11. which will be replaced gradually with one of the three proposed aircraft: Britain's BAC-111, Dutch Fokker-28 or the
      Reuter.  -  111 words
    • Article
      Lock icon BILL TO SCRAP THE C.A.B.
      98 5 Reuter THE US House Aviation Subcommittee has passed and sent to the Public Works and Transportation Committee a Bill which will abolish the Civil Aeronautics Board on Dec 31, 1982. It will allow airlines to start one new route without Federal approval for the first
      Reuter  -  98 words
    • Article
      Lock icon Marathon rigs for Peking
      61 5 Reuter. MARATHON Manufacturing of U8 Is cloee to selling two offshore drilling rigs to China. "I don't want to be premature, but we are very very hopeful that we will have a contract," chairman and chief executive Oene Woodfln said. The rigs will be built in
      Reuter.  -  61 words
    • Article
      DAILY AIRCRAFT MOVEMENTS
      765 5 ARRIVALS LMl Operator Number Tim From MAS MH601 0700 KUL MA8 MH882 0725 KCH SIA SQ101 0615 KUL MAS MH021 0640 PEN MAS MH0O7 0645 KUL MAS MH671 0045 PEN/KUL V OIA OA08O 1030 HLP CPA CX710 1005 HLP RBA BI323 1025 BWN SIA SQ103 1045 KUL
      765 words
    • Article
      Lock icon LONDON FREIGHT MARKET
      207 5 UPI. OVERALL dry cargo movements to and from the Far East were active although essentially of a somewhat miscellaneous nature. Continental grain took a 17,142 ton loader from the £H lf 10 J apan at the rate n 1, J?* 2 1 and also hnked with the
      UPI.  -  207 words
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      Page 5 Advertisements Column 1
      243 5 MPS MANMSEMENT I PRODUCTIVITY SERVICES PTE. LTD. MANA6EMENT COURSES CI: UNDERSTANDING FINANCIAL REPORTS FDR MANAGERS This course hos been designed to guide managers who have little or no knowledge of accounting, to reod ond analyse Financial reports. Participants attending the course will be oble to identify oreos for investigation ond
      243 words
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  • Article
    Firms cannot go it alone
    462 6 THE chemical industry In Singapore faces problems that all our major export Industries have to contend with. They are all breaking Into relatively new ground and pitting their wits against established companies which, more often than not, have marketing networks that are spread worldwide. As
    462 words
  • Article
    The answer lies in hard selling
    248 6 THE strong Improvement In business confidence In the latest Survey of Business Expectations must warm the hearts of our top planners. The survey was conducted not long after Finance Minister Hon Sul Sen announced the businessman's budget and there Is probably a strong correlation
    248 words
  • Article, Illustration
    All you need to know about trade-marks
    1942 6  -  By SIVA ARASU FEW people pay much attention to trade-marks, lest it be to identify their favourite "best buy" In the shops. But for a manufacturer or trader, business may depend on successfully picking a popularly identifiable symbol for their product. As a
    1,942 words
  • Article
    ... THE NITTY-GRITTY OF IT
    1221 6 THE NITTY-GRITTY OF IT CERTAIN aspect* of our Trade Marks Act recall that old maxim, "The law is an ass." What is at issue is not the rules and regulations detailed in Singapore's 1939 Trade Marks Act (Chapter 206 of the Singapore Statutes), but its application. As an exasperated trade-mark
    1,221 words
  • Page 6 Advertisements
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      Page 6 Advertisements Column 1
      645 6 sinGopura FORUM gS HOTEL cmmnm Pebble Bar The legendary'TANlA. Only the four of 'TANIA' can produce the uniqueness of their very own GREAT SOUND. IT'S DYNAMIC. BIG SHOWS: Performing Mondays through Saturdays 9pm to 2am. THE TRIO LOS SANTOS A versatile group of young talents harmonising the great favourltles In
      645 words
  • Page 6 Miscellaneous
    • Miscellaneous
      Page 6 Miscellaneous Column 1
      63 6 OUTLOOK Jor Singapore from 6 a.m. to noon today: Local showers in late morning. Report for 24 hour* prior to 7.30 p.m. on May 10 at the airport. Maximum Temperature 30.9° C Associated Humidity 77 Minimum Temperature 24.4° C Associated Humidity 97 Hours of Sunshine 2.70 Rainfall in Millimetres 20.0
      63 words
    • Miscellaneous
      Page 6 Miscellaneous Column 2
      289 6 SINGAPORE 5 3.00 PM Opening announcements followed by The Beverly Hillbillies Silver Dollar City Fair (Repeat) O 3.25 Diary of Events (Chinese) 3.30 Eight Heroes of Shou Lin with English subtitles (Repeat) 0 a Mandarin drama serial 4.15 Intermission 6.00 Opening announcements followed by Lassie The Day the Mountain Shook
      289 words
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  • Article, Illustration
    Lock icon It won't be easy for new IMF chief
    1689 7  -  ■r PAUL LEWIS NYT. JACQUES de Laroslere, who i will take over next month as i head of the International i Monetary Fund, has chosen a good moment to become the world's chief currency policeman." Most of the organisation's 100-odd member governments
    NYT.  -  1,689 words
  • Article
    STRAWS IN THE WIND
    666 7 TEENAGERS are not discouraged from smoking by warnings of anything as seemingly remote to them as death but they are moved when confronted with real and present physical deterioration, judging from an American report recently released. When given biofeedback machine evidence that smoking made their hands
    666 words
  • Article
    THE BETTER DEFENCE IS ATTACK
    900 7  -  FOBPM t 1 on America ir THOMAS MULLANEY Afr. Mullaney is the New York Times' financial correspondent A RATHER strange thing happened in Key Blscayne, Florida a week ago. It was there that many members of an American industry beset by a heavy volume of
    900 words
  • Page 7 Advertisements
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      Page 7 Advertisements Column 1
      273 7 TODAY -OKOH Lunch > H r> 9 3 branches for your convenience: SINGAPORE OKOH Supreme House, Penang Road. Tel *****1 ;j OKOH OF GINZA Hong Leong Bldg Raffles Quay. Tel *****81 |l KATSURA I Orchid Inn, Dunearn Rd Tel: *****2 KING S HOTEL Havelock Road, Singapore 3 Td: *****1 LADYHILL
      273 words
  • Page 7 Miscellaneous
    • Miscellaneous
      Page 7 Miscellaneous Column 1
      41 7 BnStoW :F&xdzDictens BO«UD»MGS SiLHOUeTT(&D tH£ son Ty*e ffettfcL PtND OPP\L SKvf SS SUFFuSfeO UJITH OF GOLD fue ftjßPie SMPiDObJS L€N&THe.NI P>ND RS SON states SlOJiJ>f IN THt uiesr U)(L Per CHeST<LR-PeW?l Refuse faeces Pw HOUR RhO TuJOsITV TO GOING WOOT6, r.CTte
      41 words
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  • INTERNATIONAL STOCKS MARKETS
    • Article
      Lock icon Caution rules the market
      590 8 TOKYO Source: Daiwa Securities. PRICES have declined for tne last three days because of Investor caution. Reports from some companies of good business results for the term ended March gave no significant impetus to the market yesterday. Any positive sentiments were purely speculative. The market opened
      Source: Daiwa Securities.  -  590 words
    • Article
      Lock icon Hongkong
      360 8 Source: Sun Hung Kai THE market yesterday continued its recent slide In the morning with turnover at Its lowest for many weeks. The selling pressure was only light and as recently seen, price losses were based more on defensive marking down rather than actual trade. Some brokers feared that
      Source: Sun Hung Kai  -  360 words
    • Article
      Sydney
      338 8 A SMALL cut In official Interest rates stimulated Institutional Interest, taking leading Industrials and banks higher yesterday. BHP gained four cents to $6.60, while in banks, the Wales rose 10 to $5.40 and the ANZfour to $2.92, the National eased two to $2.48 following a subsidiary's forecast of flat
      338 words
    • Article
      Manila
      128 8 THE market yesterday closed mixed with oils posting slight gains while minings and commercials declined. Turnover fell to 3.67 million pesos. Leading mining Issues closed lower on continued depressed US copper prices. MAY I* Pesos Acoje Mining .01 unch Atlas Con. A Alias Con. B. 13.50 ♦0.1 BagutoOold 007
      128 words
    • Article
      Bangkok
      141 8 MAY 1« Bah is Asia Fibre 252 -2 Bangkok Bank 377 unch Bangkok Invest. Bangkok-Metro-politan Bank Bala BerliJucker Carpet Intnl 340 +2 Charoong Thai Wire Dumex DusltThanl Faber Merlin First Trust 344 11 Genera Finance m -4 Indo-Thal Industrial Finance Corp 2505 -20 J And J Ho 402 unch
      141 words
    • Article
      MOSTLY MIXED CLOSING
      319 8 W Fl l\<)I F X [UAKKF'IS MOST European bourses closed mixed on Wednesday. The Paris market moved generally lower led by stores and electrical* The point fall to 8 per cent In domestic call money gave little support to the market. Mlchetln. which proposed a higher 1977
      319 words
    • Article
      Paris
      272 8 MAY 89 Frs CORBEILLE Alr-Liqulde B S N OervaU Danone C8F(Thom*>nCsf) Clr Fran cats* des Pet roles Compagnle Flnanclere Compagnle Oenerale Credit Foncler De France Hachette <Libralrle) Machine* Bull Mirhelln (B> Pari baa Pechlrvey CI fine Kuhlmann Peugeot-Citroen. Philips (NvOem Beat) PrlntempsSA Rhone-Poulence SA Royal Dutch SuewCle Ft nan
      272 words
    • Article
      Frankfurt
      217 8 MAY M Dm Aef-Telefunken 84.30 Akzti 25 80B AUz Leben 620 unch AllzVers 404.50 unch BASF 130.20 +0.5 Bay H T Wbank 277 -0.5 Bay Vbank 291 -0.1 Bayer 139.70 ♦0.7 BBC 284 B BMW 220 +0 5 Casaella 330 -1 Chem Verw 23# 4-4 Commerzbank 220 90 0.9
      217 words
    • Article
      Brussels
      94 8 MAY M Frs FORWARD MARKET Acec 290 unch Arbed 2360 -20 Astur MO -50 Braacan 488 ♦5 Br u-Lamb 1580 -15 Canpac 528 -4 Cock 424 10 De B«wrs 163 +2 Ebes 2275 -250 Electrobel M70 -10 Ob-Inno-Bm 2020 -180 Gev 1324xd -88 Hobok 2280 unch Petro 4305 *30
      94 words
    • Article
      Amsterdam
      235 8 MAY M Fls ABN 340 50 1.5 Ahold 101 00 -1 Akzo 27 AO -18 AMEV 84 50 ♦0.5 Am fas 108 SO 1 Amrot Bank 77 80 ♦0.5 Bergoss 55 80 -0.1 Berk 92 00 0 8 Bo Is 89 20 ♦0.5 BorsumlJ 159 00 unch Burhmann 99
      235 words
    • Article
      Zurich
      181 8 MAY M Francs Actions Sulsses 282 5 urvch Alusulsse Br 1145 ♦40 Alusulsse Reg SOI ♦8 Brown Boverl Br 1580 +40 Ciba Oelgy Br 1170 +20 Clba Oelgy PC MO 25 Clba Olgy Reg •14 ♦3 Credit Suisse Br 2165 25 Credit Suisse Reg 410 +1 Elektrowatt Br 1020
      181 words
    • Article
      Jo'burg
      441 8 GOLD shares closed mixed In very quiet trading on Tuesday following generally unchanged bullion prices and a lack of Interest. dealers said. Mining financial! were mostly higher reflecting recent producer rises with Amgold up 70 cents to 2.875 while most other gains were about 15 cents. De Beers rose
      441 words
    • Article
      Profit-taking thwarts another rally
      1164 8 NEW YORK THE STOCK market failed In another attempt to continue ita recent rally, as prices finished narrowly lower In a relatively quiet trading session on Tuesday. Analysts, blaming the pullback on profit-taking, said Investors were keeping a close watch on the Federal Reserve system and
      1,164 words
    • Article
      CHICAGO BOARD OPTIONS
      1287 8 May 9 TRADING on the Chicago Board Options Exchange came to 132,924 on Tuesday contract* compared with 153,182 on Monday. OPTION/LY OCT JAN STOCK Alcoa Alcoa Alcoa Am Tel Am Tel Am Tel AUR AUR AUR Avon Avon-P Avon Avon-P Avon Avon-P Avon Avon-P Bank Am Bank
      1,287 words
    • Article
      Toronto
      345 8 SHARE prices closed mixed In active trading on Tuesday, with the composite Index off more than a point and advCnces leading declines 225 to 200. Eight sub-groups rose. Including golds, up 15 points on htfcher bullion prices. Cara Operations fell 1-1/2 to 14-1/2 after the company said there were
      345 words
    • Article
      Selected indices
      69 8 FINANCIAL TIMES INDUSTRIALS Tuesday 471.1 Monday 480 Week Ago 480.8 DOW JONES AVERAGE INDUSTRIALS Tuesday 822.07 Monday 824.M Week Ago 840.18 LONDON DOLLAR PREMIUM Tuesday 110 to 110* Monday 110 to 110* H K HANG SENG Wednesday 451.97 Tuesday 451 36 Week Ago 456 25 SYDNEY INDUSTRIALS Wednesday
      69 words
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      Page 8 Advertisements Column 1
      497 8 This Month's New Penguins 7~~| Surprise: Brian Burland (TWfflfiJffp Brian Burland, Penguin's latest author has an easy |ill|j|jjAjli| mastery that can knock most of the vaunted bestsellers right out of the ring. In Surprise, the language has W a convincingly salty swing and a surge of the CariW I bbean
      497 words
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  • INTERNATIONAL COMPANY NEWS
    • Article
      Lock icon BOC PULLS THROUGH MERGER WITH AIRCO
      155 9 NORTH AMERICAN Reuter. BOC International Ltd said it completed the merger of Airco Inc into BOC. BOC aaid it acquired enough shares in a recent tender offer to give it about 95 per cent of Airco. BOC expects to make an offer to shareholders
      Reuter.  -  155 words
    • Article
      Tenneco oil hopes
      41 9 TENNECO Inc expects .1978 to be its best year ever. Its president James Ketelson told analysts. He said that in 1979 dally production of oil artd condensate should reach nearly 100,000 barrels, up from 77,000 barrels in 1977.
      41 words
    • Article
      Lock icon Massive Renault credit to AMC
      794 9 AP. FRENCH car manufacturer Renault expects to extend tens of millions of dollars In credit to Its new US partner, American Motors Corp. The credit will help AMC assemble Renault cars in Kenosha, Wisconsin, Renault executive vicepresident Bernard Hanon said in Automotive News. The disclosure
      AP.  -  794 words
    • Article
      Lock icon Competition and recalls sap sales
      738 9 NYT. IN THE second half of 1975, the Chrysler Corporation gambled that American car buyers were ready for a compact-sized station wagon that would fill the gap between the tiny subcompact models and the full-sized ones. The gamble paid off. The Plymouth Volare quickly became
      NYT.  -  738 words
    • Article
      Lock icon Bastogi to take part in Italian firm's salvage
      219 9 EUROPEAN Reuter FINANZIARIA Bastogi Is to take part in the salvage of Liquichlmlca. with a 33 per cent stake In a new marketing firm to be set up to deal with the commercial side of Liquichlmlca's business. Bastogi, a leading private shareholder
      Reuter  -  219 words
    • Article
      Lock icon BMW to raise $147m through rights issue
      392 9 Reuter. BAYERISCHE Motoren Werke (BMW), the Munich-based car and motorcycle manufacturer, will propose to its sharemeeting on June 27 a slightly reduced cash divldend for 1977 and a substantial capital Increase via a 133 million marks (SSI47 million) rights issue. Last July saw
      Reuter.  -  392 words
    • Article
      Philips' sales up 7 pc this year
      147 9 PHILIPS GloellampenFabrleken said sales by volume rose 7 per cent In the first quarter of 1978, the level predicted for this year as a whole, though in guilder terms the rise was only 3 per cent to 7.22 billion guilders. Net profit, however,
      147 words
    • Article
      Lock icon Firestone to close Swiss tyre plant
      78 9 Reuter. FIRESTONE (Schwlez) will definitely close its tyre plant in Pratteln, Switzerland, this year despite local and federal government efforts to negotiate a basis for keeping it open. The cantonal government said a final decision was taken on Tuesday by the board of the
      Reuter.  -  78 words
    • Article
      Lock icon Lockheed may resume cash dividends
      142 9 Reuter. AFP LOCKHEED Corp chairman Roy Anderson said the company hopes to resume cash dividends reasonably soon. Mr. Anderson, addressing the annual meeting, set no specific time for the resumption and asked shareholders not to try to pin him down on an exact date. Lockheed
      Reuter.; AFP  -  142 words
    • Article
      Lock icon Arabs may be in on $115m Manhattan hotels offer
      476 9 NYT A GROUP OF foreign investors has made a cash offer of US$5O million (Sslls million) to buy three of Manhattan's major hotels from the bankrupt Penn Central Transportation Co. The offer, to buy the Barclay, the BUtmore and the Roosevelt
      NYT  -  476 words
    • Article
      Lock icon Minnesota not quitting SA
      198 9 Reuter. MINNESOTA Mining and Manufacturers Co expects a good growth In earning* this year although the increase for all of 1978 Is not likely to match the first quarter gain of 37.8 per cent, Chairman Raymond Herzog told the annual meeting. Last year, Minnesota earned U*****.9
      Reuter.  -  198 words
    • Article
      VMF-Stork sees woes
      239 9 AMSTERDAM: VMF-Stork, the troubled Dutch engineering group, said new orders declined In the first three months of 1978, continuing the trend of the past two years. Orders were more than 10 per cent lower than In the same 1977 quarter after falling to F15.1.77 billion In 1977
      239 words
    • Article
      House of Fraser to spend £19m
      240 9 SOME cifl million of capital spending is planned by House of Fraser this year, both on new projects and on the updating of existing stores. Sir Hugh Fraser, the chairman, says In his statement with the accounts that later this year a new Rackmans
      240 words
    • Article
      Lock icon Revlon's capital spending reaches $125m
      147 9 Reuter REVLON Inc's capital spending will total some US$55 million (Ssl2s million) this year compared with $33 million last year. Chairman Michel Bergerac declined to put an exact figure on research and development spending this year, but said it would grow at the same rate
      Reuter  -  147 words
    • Article
      Monsanto files for debt offering
      95 9 MONSANTO Co said It filed a registration statement with the Securities and Exchange Commission for a proposed offering of US$2OO million of sinking fund debentures due orv May 15, 2008 Ooldman. Sachs and Co will manage the underwriting group. A sinking fund starting on May
      95 words
    • Article
      General Dynamics
      66 9 GENERAL Dynamics Corp was able to post higher first quarter earnings in spite of a substantial loss incurred by Freeman United Coal Mining Co as a result of the nationwide coal miners' strike. Chairman David Lewis said the strike closed the mines for the entire quarter. The company
      66 words
    • Article
      Lock icon Sanyo studies mark issue plan
      148 9 BONDS AND LOANS Reuter. SANYO Electric Co said it is studying a plan to issue a convertible mark Eurobond, probably of at least 100 million marks (SSIIO million), on the West German capital market between next July and September. The size and timing have yet
      Reuter.  -  148 words
    • Article
      Lock icon Aussie offer
      51 9 Reuter AUSTRALIA will file this week a registration statement with the US Securities and Exchange Commission for a proposed public offering of US$25O million of bonds, Australian Treasurer John Howard said in a statement released In New York. The bonds will be offered later this month, he said.
      Reuter  -  51 words
    • Article
      Lock icon Norway's US$250m float
      55 9 Reuter. NORWAY is floating a US$25O million five-year Eurobond priced at 99-1/2 per cent and with a 7-7/8 per cent coupon, lead manager Deutsche Bank said. Managing group members include the Abu Dhabi Investment Co, Algemene Bank Nederland, Banque Natlonale de Paris and Banque de Paris et
      Reuter.  -  55 words
    • Article
      Lock icon Isveimer
      31 9 Reuter. THE Isveimer's (Istituto Kr lo Svlluppo Economlco ll' Italia Meridonale) $85 million BVi per cent Eurobond due 1981 was priced at par, lead manager Dillon Read Overseas Corp said.
      Reuter.  -  31 words
    • Article
      Lock icon N.Sinpan issue
      59 9 AFP. A 50 million mark convertible bond issue has been floated in Frankfurt on behalf of Nippon Slnpan Ltd, of Tokyo, Japan's biggest newspaper publishing house, the Berliner Handels und Frankfurter Bank (BHF) said. The BHF, which arranged the issue, said it would be repayable in seven years
      AFP.  -  59 words
    • Article
      Ontario Hydro Eurobond
      55 9 PRICING of Ontario Hydro's US$l25 million Eurobond is provisionally expected on May 18. Deutsche Bank said as lead manager. The bond, to be guaranteed by the province of Ontario, will have a {>robable seven-year fixed ifeandSH per cent coupon, the bank said. Ontario Hydro issued a US$l25
      55 words
    • Article
      Lock icon Canadian Imperial
      48 9 Reuter. CANADIAN Imperial Bank of Commerce said It proposes a one-for-elght rights Issue at US$24 a share to raise $104.5 million. The bank said the rights Issue is on register May 12. The new share offer is not being registered In the US. It said. Reuter.
      Reuter.  -  48 words
    • Article
      Lock icon Seiyu confirms terms
      61 9 Reuter THE 100-mlllion mark eight-year bond for Seiyu Stores Ltd will carry a 3% per cent coupon and has been priced at par, a spokesman for lead manager Westdeutsche Landesbank Olrozentrale said. Conversion price is 1,275 yen a shafe and the bonds will be convertible from Sept
      Reuter  -  61 words
    • Article
      Lock icon Industrial Bank of Japan deal
      57 9 Reuter THE Industrial Bank of Japan Finance Co, subsidiary of the Industrial Bank of Japan Ltd, Is negotiating a 100 million mark Euronote, lead manager Deutsche Bank said. The loan is expected to carry a 5 per cent coupon and six-year life. Terms will be
      Reuter  -  57 words
  • Page 9 Advertisements
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      Page 9 Advertisements Column 1
      149 9 Don't let the language barrier stop you from wider r iP! '.<;i contacts I eH> *1 A o° iv* ■^W e£ W \o nN 6^ 6^ to G^ X \e^ r^ x I 0n e V* *V* e o S \0 p,N nN d \N a i YOU SIMPLY CANNOT
      149 words
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  • DEALS DONE ON THE SES AND KLSE
    • Article
      In Singapore
      1767 10 BID and offer prices officially listed and business In and reported to the Stock Exchange of Singapore yesterday with the number of shares traded shown In brackets in lots of 1,000 units unless otherwise specified. All Time Settlement Contracts are quoted after the word "sett 7 Big Board
      1,767 words
    • Article
      Corporate and government bonds
      261 10 Australian D B H 1/4% 1982 (100.000) (95V.8 975) Australia* D B It* I*B2 (100.000) (98*B 99"»5) BOTH 1/2% 1981 (100.000) (100'.B 100SS) B O T 7 S/8% 1984 (100.000) (95%8 95SS) B O T Floating 1984 (100.000) (99V.8 100S) C I toll 8 1/8% 1984
      261 words
    • Article
      Stock options
      158 10 STRIKING prices of the stock options officially listed on the Stock Exchange of Singapore, the periods, bid and offer prices and business done yesterday, with the number of options traded shown In brackets. Cold Storage (June 51.70) (0.3M8 0.435). (Sept 11.70) (0.408 0.525). C and C (June 12.20)
      158 words
  • Article
    SHARE INFORMATION SERVICE
    2445 10 1978 High 1 Low Company Last Sale +OTDiv Div C'vr Y*ld P/E Vol COOO) Day High Low SECTION ONE INDUSTRIALS 181 •213 151 225* 81 265 183 396 422 161 132 123' 112 195' 60H 191 144 256 394 123 Acma Alcom Allied Choc Bala Ben Bo
    2,445 words
  • Article
    In Kuala Lumpur
    1818 10 BID and offer prices officially listed and business In and reported to the Kuala Lumpur Stock Exchange yesterday with the number of shares traded shown in brackets In lots of 1.000 unit* unless otherwise specified. INDUSTRIALS AJinamate (2.318). Alcem (1.978 1 BBS) (3) I.M (4) 1.97. A
    1,818 words
  • Article, Illustration
    Blue chips on sideline
    796 10 SINGAPORE SUSTAINED buying rapport in selected second liners made for a steady to firm market on the Stock Exchange of Singapore yesterday. Blue chips were sidelined for the major part of the day as speculators concentrated on the second liners. First section industrials, however, rallied in
    796 words
  • Article
    HECTIC AGAIN ON KLSE
    571 10 IT WAS another hectic session at the Kuala Lumpur Stock Exchange yesterday wth prices finishing on a firm note. Volatile second and third liners continued to dominate trading, and with strong buying support, these counters scored Impressively. Against such a background 6.93 million units were transacted
    571 words
  • Article
    Unit trusts
    140 10 SINGAPORE UNIT TRUST INCOME BOND UNIT (Ntaifvi' pritM tar Ma, II) pr INCOME BOND mm) The Commerce IN S.11 l.M 1.UU The 8a rlnt Fund 1.18 1 23 S pore Proc Fund O.M 1.01 *A*A BUMIFUTRA FUND 8 por*8ecurUjr l.M l.M (*uaiprt' BVIMB First Bumlputra tm May II)
    140 words
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  • COMPANY NEWS
    • Article
      DIVIDENDS ANNOUNCED
      738 11 Ciftoat Ex Baaka Data Total For Tatal for pajmsat Date CftOGC payakle tk* year previous year NaT l4%I Apr I* May 2 May 11 IS* ■nwta) Central Sugar* fct— Hydraulic MI »%I Apr U Apr Apr M May3 May IS May IS 9% 20* SSfa) Cartakerg 14* Apr
      738 words
    • Article
      SCRIP ISSUES
      226 11 Company Particulars Ex Date Book* Close Kramat Tin Negri Sembilan Bonus Issue of 1 for 5 Apr 27 May 10 Oil Palm* Straits Steamship Bonus Issue of I for 2 Bonus Issue of 1 for 4 May 15 May 15 May 26 May 23 May 26 May 30
      226 words
    • Article
      KLK hot shares
      299 11 THE share Issue of Kuala Lumpur Kepong Berhad to bumiputras has been oversubscribed by "more than 11.4 times." At yesterday's share balloting, the company announced that a total of 8,377 applications for 23,943,000 shares worth M 527,534,450 were received at the close on Mondav. The company has
      299 words
    • Article
      Mills spin bad fortune on Malaysia Weaving
      314 11  -  By LOW LEE CHOO A SHARP turn into the red by lone subsidiary Malaysia Spinning Mills (MSM) has dragged Malaysia Weaving Enterprise's earnings substantially down for 1977. Audited group pre-tax profit for the year ended Dec. 31, 1977 plunged 80 per cent to
      314 words
    • Article
      Natural compromise is the answer
      198 11 THE basis of the consideration for the acquisition of Macon dray, a Filipino company. by Boustead (HK), a 50 per cent-owned associate of Bousteadco, was "the natural compromise between the value sought by a willing seller and the price a willing buyer was prepared to
      198 words
    • Article
      Chin Teck Plantation
      42 11 CHIN Teck Plantation has obtained shareholders' approval for the recently proposed four-for-flve scrip Issue at the extraordinary general meeting held on April 23. Also approved was the increase of the authorised share capital from 912 million to 920 million.
      42 words
    • Article
      Robinson
      145 11 The Editor, Business Times. Dear Sir. WE REFER to the article appearing on page 11 of the Business Times today under the heading "Growing Rich on Robinson." We refer in particular to the 11th and 12th paragraphs of the article, relating to the acquisition of the old Robinson department
      145 words
    • Article, Illustration
      Cream of management runs Cold Storage
      1027 11  -  MANO SABNANI "WE HAVE an extremely competent team of top management personnel and it Is our intention to use their abilities to the fullest extent," says the chairman of Cold Storage Holdings, Mr S. R. Parker. He threw cold water on the persistent rumour
      1,027 words
    • Article
      COMPANY MEETINGS
      714 11 Sembawang Shipyard Ltd: AOM to be held at the shipyard. Admiralty Road East, Sembawang. Singapore, at 9.30 a.m. on May 30. Malaysia Building Society Bhd: AGM to be held at Bangunan MBSB, Leboh Ampang. Kuala Lumpur on May 31. Highlands and Lowlands Bhd: AGM to be held at
      714 words
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      Inch Kenneth
      126 11 INCH Kenneth Kajang Rubber has announced that It is being controlled and managed in Malaysia as from April 28, and it Intends to hold future meetings of the board in Malaysia. Members of the reconstituted board are Messrs C.W. Tresise, I.T. Johnstone, Q.A.B. Oalbralth and R.H.M. Lindesay, following
      126 words
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      Boustead Holdings
      28 11 IN YESTERDAY'S article on Boustead Holdings, the $1.42 million of net tangible assets referred to In the slxthparagraph are those of PCSB and not of Boustead.
      28 words
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      Director dies
      14 11 TASEK Cement's director, Dato Peh Seng Khoon, passed away on April 24.
      14 words
    • Article
      Loan for City Plaza
      103 11 CITY Developments Ltd (City) said its wholly-owned subsidiary, Ouan Realty (Pte) Ltd., has arranged with its principal banker a $7.5 million two-year term loan and overdraft facilities. City said the loan will supplement the financing of the development of the shopping-cum -residential complex in Singapore. In
      103 words
    • Article, Illustration
      Inflationary costs hit Sigma
      604 11  -  By PETER CHIA AS FOREWARNED, the recovery at Sigma Metal came to a grinding halt with re-tax profits rising only y a marginal 2.3 per cent. Despite an increase In sales revenue of a near 12 per cent to $11.3 million for the year ended Dec
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      166 11 coo****** The Foulks way means 1. Studying with the largest established firm of accountancy tutors in U.K. 2. Enjoying the benefits of over 90 years of tutorial expertise. 3. Being informed of the latest changes and current events and topics of interest and relevance through the exclusive "Foulks Lynch Review".
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    Lock icon Indonesia keen on hosting the next fair
    423 12 Reuter, UPI INDONESIA Is interested In staging the second Ase&n trade fair within the next two years. Secretary general of the first fair, Edsel Custodlo said In Manila yesterday the Indonesian official delegation was holding informal consultations with the secretariat on preparations for
    Reuter,; UPI  -  423 words
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    Sour mood over sugar pact delay
    454 12 DELAY by the US Congress in ratifying the 1978 World Sugar Pact Is causing the International Sugar Organisation to seek legal advice from the United Nations on a matter which is of major concern to the United States and other producer and consumer members
    454 words
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    Lock icon Spurring growth is one way to end poverty
    1004 12 WORLD BANK IS CONFIDENT Agencies THE PROBLEM of poverty In middle-income developing countries could be largely solved by the end of the century said a World Bank official. Beating poverty in those countries Is a matter of speeding up growth and redistributing
    Agencies  -  1,004 words
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    Japanese support easier banking
    453 12 JAPANESE Bankers Association president Takuji Matsuzawa said Japanese banks support foreign banks' demands for liberalisation of the country s. banking system, which he said coincide with their own position. Mr. Matsuzawa, also president of Fuji Bank, told a press conference that both foreign and Japanese banks
    453 words
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    LONDON STOCKS
    703 12 LONDON. Wed Prices closed slightly higher in light trading today after easing initially on concern over signs of an acceleration in British money supply growth and an Increase in interest rates. The Financial Times index at 3 p.m. was up 3.4 at 474.5. Dealers said government bonds rallied
    703 words
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    Lock icon LENDING BY ADB TO CROSS $2.3B
    158 12 UPI. ASIAN Development Bank president Tarolchi Yoshlda said yesterday the bank's annual lending operations are expected to surpass US$l billion (552.3 billion) for the first time this year. Mr. Yoshida spoke at a meeting of the Pacific Basin Economic Council. He said the bank
    UPI.  -  158 words
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    Whopping steel loss
    48 12 THE European Community's steel Industry sustained losses amounting to 2.5 billion European Units of Account (Bs7 billion) in 1977. EEC industry commissioner Etlenne Davlgnon told the European Parliament the Commission was taking measures to create the right conditions for a fundamental overhaul of the industry.
    48 words
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    Lock icon A clarion call to help fight inflation
    194 12 AP. THE US Administration's chief inflation fighter, Robert Strauss, has declared that America must stop what he labelled the pro-inflationary psychology of "I'll grab mine and run "We must all realise that inflation is costing us dearly, and decide to stop it," Mr.
    AP.  -  194 words
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    Ministry of Finance on the move
    89 12 SIX departments and divisions of the Ministry of Finance will move into the CPF Building in Robinson Road at the end of the month. Removal will begin on May 20 and will Involve the Accountant-General's Department, Pension and Personal Emoluments Unit of the Audit
    89 words
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    Lock icon HK comex is thinking big
    633 12 Reuter. THE HONGKONG Commodities Exchange will consider Introducing futures trading In financial instruments In the long term. Mr. Peter Scales, exchange chairman, said: "This is a new area and there Is no reason why we should not look at this possibility and deal In such
    Reuter.  -  633 words
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    OIL SWAP WITH JAPAN?
    318 12 US TREASURY Secretary Michael Blumenthal said the Administration Is seriously considering an oil swap with Japan. Answering questions during an appearance before the National Finance Council of the Democratic National Committee, Mr. Blumenthal said no decision has been reached yet. He offered no details on what
    318 words
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      406 12 V The Hmes Organ isatioa invites applications from experienced executives to fill the following vacancies arising from expansion in The Straits Times. Advertisement Manager (Sales) This is the top position in the sales division of The Straits Times. The selected person will be responsible and accountable for advertisement sales of
      406 words
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    SHIPPING TIMES
    4235 13 SCHEDULE A guide to ships loading at Singapore for Ports around the World The following list tabulates, by port of destination the name of the ship, the shipping Une involved, and the estimated dates of arrival and departure from Singapore port. t Consortiums Scan Dutch iuu a Joint
    4,235 words
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      424 13 FOR MOKE AND FASTER SAILINGS MAERSK UNE SINGAPORE *****46 PENANG *****1 K.LUMPUR ***** P.KELANG *****0 STRAITS TRANSPORTATION PTE. LTD m COMPANIA NAVIERA MARASIA. S.A FULL CONTAINERSHIP SERVICE TO AND FROM BARCELONA CHEVALIER M-C U),U HU f P. HUM BARCELONA VAIBEUE 17 LAURO/VICEROY/GLOBAL JOINT SERVICE lESUU* INDEPENDENT MONTHLY DIRECT SERVICE TO
      424 words
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      387 13 7 ARAB w LIME •J UNIPACIFIC TRANS TRADING ORIf NT Ai SHIPPING CORPN AGFNCrPTf LTD ocs MARINE FREIGHT MANAGEMENT SERVICE (Joes)) v 2? 7 LINF> General Agent DCS he Ltd Tel: *****17/2 few Port Kelang Agent Sh.pp, B Sdn BM TM: *****5. *****6 Bangkok Agent OCS Tel *****25 YAGUMA LINE
      387 words
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      207 13 NOTICES EVERETT STEAMSHIP CORPORATION 8/A s/s "Manoloeverett" Voy. 47-W ARRD. 3.5.78 P.S.A. ODNS. 40/41 General Survey on damaged cargo discharged ex the above vessel will be held on 11th May 1978 from 8.30 a.m. No further survey will be held after this date. DOWA LINE CO. LTD JAPAN M.V. LAKSANA
      207 words
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      13 13 FORTNIGHTLY TO MIDDLE EASJ. LAND J MT KFH6CMTED CONTAINER URVtCE BOOKING TEL *****22
      13 words
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      462 14 SHIPPING AGENTS ANGLO-FRENCH TRADING S'W Kudlo Lumpur 03 *****4.03 *****7 Bo.ik.n,s *****11 *****89 Port Kelang *****13 CFS 7726-8 CFS *****66 Termmjl *****b! Penjng *****8 Ipoh 05 ***** SUMA Q COPf NHAHFIV LINE EXPRESS SEMI-CONTAINER SERVICE TO EUROPE TRANSIT STRAITS/UK-CONTINENT 21/24 DAYS TABUK *94 GRAND JADE *99 Sum* WlOl S PORE
      462 words
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      840 14 I 3 SANKYO LINEI AUSTRALIA SERVICE LOGISTIC ACE IMPORT BilS, SYD. MEL ADEI TUE RIVER 17/11 Mar 15/1S M»y FRE, ADEL MEL SYD MAY BREEZE 22/24 May 20/21 May BRIS. SYO, MEL SEA BLOOM 4/ChtM 7/1 MM* ADEL.MEL.SYO BANGLADESH SERVICE ■nramcE i7/u»» is/nun cmttmok.cimliu GENERAL AGENTS OCEAN SHIPPING t ENTERPRISES
      840 words
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      531 14 SEA TtLAND' U.S.*./ ASIA SERVICE NT REFRIGERATED CONTAINER SERVICE SAIL! ICANAOA. CAMKAN, ttPRR. OW. TAMMN. I V€SS EL/VOYAGE EVERY MEDNESDAY FOR PORTS M UV PONCE V-324 GATEWAY CITY V-697 PONCE V-325 GATEWAY CITY V-698 Vessel Arrives/departs .MAY 16/17 .May 23/24 May 30/31 June 6/7 May 22 May 29 June 5
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      1008 14 Everett Lines 1 Barm Fhrt Star SMppiai Carpa. "BURMESE NATIONAL LINE run argentina 'MA Y. V. Y. NG FOR RANGOON B F S S C Agems in Mokryva TEPS MALAYSIA Port Ktianj Tel (38)- 7355 Penong Tel *****/***** "ARGENTINE NATIONAL LINE" j loading for Durban Capetown buenos aires 11/12 Jm
      1,008 words
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      667 14 7 JARDINI AN lAII 'A 1 r Orient Overseas C&dciHeA. Line FULLY CONTAINERISED SERVICE TO EUROPE (VIA SUEZ) rp«« mhJ sa-taa uham H'taa r««* NEPTUNE «A*L m 17/5 11/5 4/1 CNEwuußoaai m/s zvs 11/1 HRONS CONTAINERIBM Vt J/6 n/t nebcatobbm «/t i/c ORIENTAL CHIEF M 15/ C 16/6 M S
      667 words
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      1042 15 QCL Overseas Containers Limited cwniiasiip somcc re m/cmtinent: u H'burf Sf*m. R'dam Havre S'ton P. Kelanf S'pore Next Pprtf. Scwltar Silled Sulri I May 11 May HK. KS. Tekie Express SaiM Sailed Sailed Sailed 14 ltoy TK, KB, HK. IkiM Mara Sailed Sailed SaiM Salad 17 Mm IB May HK.
      1,042 words
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      1203 15 Ajastsenax of Bw Line. Bkießjnnel Glen Line and NSMO T» OK/CONTINENT (lit tmO mmhmhm DM Siappar* P. Kelanf 'Mf E*tm PATROCLHS SaiMt 11/11 M*y II lm Uuon. Bilbao. Antft. H'burf. Hull, L'pool. OENVANNOCH VIIW I/lIW JM| Lisbon. Lei.oes. T.lbury, H.I PHROHTIS 11/14 J*m St/ 22 UM 11/11 MM 1? Mr
      1,203 words
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      588 15 BEN LINE Q3& H'BUtC l-MHI tMM HAVM SOTO Singapore P. bM| C*fmar/««*tr<a »nll« Fraaca AM U.I cm or ramiuatN M+ |T| BEN ASIA CONIUSERSERVRX KiiHufi ';'7mJJ_L ASIAN PALLAS «U Saitoi to I ASIAN KWW Sa.le4 M I NIMM MAM IX II Mai Ml asian paraetss w im mi SYNE BIN
      588 words
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      993 15 Scan Dutch V EXPRESS CONTAINER SERVICE VIA SUEZ WESTBOUND TO MED/UK/ CONTINENT/ SCANDINAVIA Faadat froa P. Ratal* Vassal FMICfJU SaiM WTUMU ELEAMRA M/ t Ml BELfT (UMW 21 I IiUWM FRARCESCA 4/ I UN* lUWU n/ Ml iehma S pore b Mw.ltes a Rdaa 3) Hbart 0 la Part Hi
      993 words
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      674 15 GUTHRIE BOUSTEAD S's THE BANK LINE LTD iMts fm e. «s. Africa FMTTMU STA* (Mavritias, teumoo. Mooibisi. Tanp, Miyunp Durban, t.L, P f.. Capetaw) Penanf P. Kelan| M May/2 fca S port a/It ttaf fin cut t sarra traiu LANKE IBANK MTUM Penani P Ketanc 14/11 <**T fptn Penani P
      674 words
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      886 16 KAWASAKI KISEN KAISHA. LTD. (VIA SVEZ) by Caotatotr Vssssls to nmon S'gore P. Kelang L.Havre H'bur? Bremen R'tom A'wer Mrnnttfttftw 17*1 1 i«JJn J T* JJ" JJJJJ JjJJJ CHEVALIERROZE IW 23 May 25 13 Jw JStai 11** 17 bm IS -i H.I CONTAINERIIW 2Jooo l»«e 22 "'JJJ "JJ mumni i*.
      886 words
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      1096 16 E. C. -U-S. A. ATIAHTIC/GULF SERVICE icctniK ra/ict cmiuwk n SftK. p. nuac nuat Singapore P Ml an I btrmir Ptiung "A VESSEL" 11/11 JaM IG/M JaM 21/12 JaM H/M >■* E.G./GREAT LAKES SERVICE ntt-( tar: NORFOLK. NEW (in. MONTREAL. TORONTO. ASNTAOIJLA, DETtOIT, CRICACO. J CALIFORNIA/PACIFIC RORTH WEST SERVICE LaaM«
      1,096 words
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      1162 16 NEPTUNE ORIENT LINES LTD •FULLY CONTAINERISED SERVICES: ti Euvt (via swzr HCPTttMf PtARU CHEVALIER RUE MONCKOM CONTAIREt MERCATOR ORIENTAL CHIEF SEVEN SEAS RtIKE ORIENTAL RESEAKIER It Jmw )Mf Hkm I Jtly ITAI RESEARCHER 21JM »NM 71 t N. PEARL Sum Cl««t Timt: FCL Cap -gg LCL Cvp ITWISJ"» Ul mtHs
      1,162 words
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      698 16 Bfflh MALAYSIAN INTERNATIONAL SHIPPING CORPORATION BCRHAD TEL KL *****4. I EXPRESS FULLY CONTAINERISED SERVICE TO/FROM MED/UK/CONTINENT/SCANOINAVIA WIT MIWI Faator f. KiMJ VttMl fiahcesca nniMii (UIMM My I HI. KUT (UIMU I SIIAMIA FIAHCESCA *1 I HIMN S bore 1) Mtilict z Mm X Hbvrf 4) (tart 11/1 H/l WI 1/
      698 words
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      718 16 INTRASEA (PTE) LTO T elephon^ I REGULAR IMEPMBENT SEW/FWi CMTAINER SERVICE Tl EMft S pare P. Hl** Paaa*| laM| l«r: M.«. MLVBL (CaaU skip) 14 "W S3rJ5S2r AESIS HISPANIC ""Part Nkl A ttrp Bouwfni U(» HKRN MM» »m ESTEK.ICR (Caatr HH*) M May MWWSW* wwrng/wwrng. •Accapttat Tkrw* 11/1 tar RMtar
      718 words